Blackstone to start investing new private equity fund this quarter

President and chief operating officer of private equity firm says all of its funds are above cost

By

Shanny Basar in New York

October 29, 2010 6:44 pm GMT

The Blackstone Group said it expects to start investing its latest private equity fund in this quarter and that all of its funds were above cost as it reported an increase in net economic income, or profit, yesterday.

Tony James, president and chief operating officer, said on a conference call that Blackstone has finished investing its fifth private equity fund, BCP V, which had raised $20bn (€14.4bn). Blackstone is waiting for the final signatures to close its latest private equity fund, BCP VI, which will be more than $13.5bn...